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ACME Trading Co uses a perpetual inventory system and provided us with the following information for...

ACME Trading Co uses a perpetual inventory system and provided us with the following information for the month of May:

5/01 beginning inventory 150 units @ $300 per unit
5/06   purchase 250 units @ $350 per unit
5/25 sale      280 units @ $1,200 per unit

Calculate Ending Inventory assuming FIFO (first in, first out):

A. $90,500

B. $36,000

C. $42,000

D. $96,500

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